Valens Semiconductor Sees Q1 2024 Revenue $11M-$11.2M Vs $12.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valens Semiconductor projects Q1 2024 revenue to be between $11M-$11.2M, below the $12.08M estimate, citing challenging macroeconomic conditions and shorter lead times affecting the semiconductor industry. Gross margin is expected to be 52.2%-53.0%, with an adjusted EBITDA loss of $(9.7)M-$(9.1)M.
February 28, 2024 | 12:10 pm
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Valens Semiconductor expects Q1 2024 revenue to fall short of estimates at $11M-$11.2M, with a gross margin of 52.2%-53.0% and an adjusted EBITDA loss of $(9.7)M-$(9.1)M.
The projected revenue shortfall for Valens Semiconductor in Q1 2024, compared to estimates, along with the expected adjusted EBITDA loss, indicates potential negative short-term impact on the stock price. The company's acknowledgment of challenging macroeconomic conditions and operational challenges further supports this outlook.
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IMPORTANCE 90
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